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729 Witmer St, Los Angeles, CA 90017
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729 Witmer St Los Angeles, CA 90017

$790,000 Sold Price as of 04/29/2022
  • 2 Beds
  • 2 Baths
  • 1,506 Sq.Ft.
Sold
$790,000 Sold Price as of 04/29/2022 Refinance Your Mortgage
Map preview of 729 Witmer St, Los Angeles, CA 90017

Property Overview: 729 Witmer St Los Angeles, CA has 2 bedrooms, 2 bathrooms, 1,506 living square feet and 6,625 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present for sale an amazing opportunity to purchase a duplex just minutes away from LA Live & Downtown LA! The duplex consists of two 1 bd/1 ba units, totaling around 1,506 sqft. Both units are currently tenant occupied with both tenants current on their rent. Tremendous VALUE ADD opportunity with over 50% upside in rents!!!! The duplex is situated on a spacious 6,625 sqft lot zoned R3 TOC Tier 1, meaning a developer may build 8 units by right or up to 14 units with TOC incentives. Another option may be to keep the existing duplex and add 2 ADU's in the rear of the lot. Low price per point for the area, excellent for first time buyers, owner users, or ADU builders! Super close to shopping, restaurants, transportation, and much more that Downtown LA & LA Live have to offer its tenants. Do not disturb current occupants. Buyer to cooperate with seller's 1031 exchange at no cost to buyer. Buyer to verify all zoning regulations with LADBS. Contact listing agents for more details!

Listed by Daniel Shamooelian | BRE #01984269 | Keller Williams Beverly Hills
Last checked: 12 minutes ago | Last updated: September 28th, 2023 | Source CRMLS | DOM: 50

Home details

Lot Sq. Ft
6,625
HOA Dues
$0/mo
Year built
1901
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22123593
City
Los Angeles
County
Los Angeles
Time on Site
881 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $807
  • Total Rent: $807
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $807
  • Total Rent: $807
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 41
  • Gross Scheduled Income: --
  • Net Operating Income: $2,760
  • Gross Operating Income: $19,360
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 729 Witmer St

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
  • Has Parking
  • Parking Features: Driveway
Property Information
  • Total # of Units: 2
  • Parcel Number: 5143012017
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: South of Wilshire Blvd, North of Olympic Blvd, East of Union Ave, West of the 110 Freeway
View more facts & features

Local Los Angeles Agent

Sale History for 729 Witmer St

Last sold for $790,000 on April 29th, 2022

  • April, 2022

  • Apr 29, 2022

    Date

    Sold

    CRMLS: 22123593

    $790,000

    Price

  • Feb 2, 2022

    Date

    Active

    CRMLS: 22123593

    $799,000

    Price

  • August, 2012

  • Aug 3, 2012

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2008

  • Apr 25, 2008

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 729 Witmer St

Assessed Value (2020): $194,345
Year Land Value Improved Value Assessed Value
2020 $144,634 $49,711 $194,345

Home Value Compared to the Market

This property vs the competition

729 Witmer St sold on April 29, 2022 for 37.28% lower than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $530.54 per/sqft which puts the price per square foot 32.93% lower than the current median sale per square foot for the city of Los Angeles.

About 729 Witmer St

Detailed summary of property

729 Witmer St is a multi family that recently sold in Los Angeles, CA 90017. This multi family property offered 2 bedrooms, 2 bathrooms, roughly 1,506 living square feet, and sits on an approximately 6,625 square foot lot. 729 Witmer St was first listed on ArdentRealEstateGroup.com on February 2, 2022. The homeowner sold the property for $790,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 37.28% lower than the current median priced home. Local homes that are currently for sale include 3811 Trinity St, 4024 Woodlawn Ave and 1162 E Martin Luther King Jr Blvd. While the average home in Los Angeles, CA is selling in 100 days, 729 Witmer St has a days on market of 50 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 729 Witmer St Los Angeles, CA 90017 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 729 Witmer St

Public county record property details
Beds
2
Baths
2
Year built
1901
Sq. Ft.
1,506
Lot Size
6,625
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
3,7
APN
5143-012-017

The source for these homes facts are from public records.

90017 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$639,999
Median List Price/Sq.Ft.
$745
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$602
Total Inventory
99
Median Sale to List Price %
89.03%
Avg Days on Market
89
Loan Type
Conventional (28.57%), FHA (0%), VA (0%), Cash (14.29%), Other (14.29%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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